L&G 9-month sales dip

L&G also said it had generated 450 million pounds of net cash in the first nine months of the year, achieving its full-year target three months a head of schedule.

The cash generation figure is before experience variances, adjustments to take account of customers letting their policies lapse earlier or later than expected.

L&G had a capital surplus of 2.5 billion pounds at September 30, up from 1.9 billion pounds at the end of June, the company said.

(Reporting by Myles Neligan; editing by Simon Jessop)